What is the Fair Market Rent in Oak Park, IL?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home runs from $1,820 to $3,020 a month across the 3 ZIP codes that cover Oak Park.

By ZIP code: 60301 $3,020, 60302 $2,010, 60304 $1,820.

Across the whole Chicago-Joliet-Naperville, IL HUD Metro FMR Area the two-bedroom figure is $2,011.

The Census Bureau’s median gross rent for a two-bedroom home in Oak Park is $1,919 (±$97), below the Small Area figure for ZIP 60301.

Figures last updated on .

2 bedrooms, whole area
$2,011
2 bedrooms, ZIP 60301
$3,020
2 bedrooms, ZIP 60302
$2,010
2 bedrooms, ZIP 60304
$1,820

Fair Market Rents for Oak Park, fiscal year 2027

HUD Fair Market Rent, dollars a month (gross rent, including utilities), beside the Census Bureau’s median gross rent for each ZIP code
Studio1 bedroom2 bedrooms3 bedrooms4 bedroomsCensus median rent
Chicago-Joliet-Naperville, IL HUD Metro FMR Area (whole area)$1,678$1,780$2,011$2,586$2,954—
ZIP 60301$2,520$2,670$3,020$3,880$4,440$2,292
ZIP 60302$1,680$1,780$2,010$2,580$2,950$1,437
ZIP 60304$1,520$1,610$1,820$2,340$2,670$1,388

A Fair Market Rent is HUD’s estimate of the gross rent (shelter plus utilities) of a modest rental home in the area.

Whether a housing authority uses the ZIP code (Small Area) figures or the area-wide one depends on whether HUD has designated the area for Small Area FMRs or the authority has opted in; ask the local housing authority which applies.

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Questions about Oak Park

What is the Section 8 payment standard in Oak Park?

Housing authorities set payment standards between 90% and 110% of HUD’s Fair Market Rent; for fiscal year 2027, the two-bedroom Fair Market Rent for the Chicago-Joliet-Naperville, IL HUD Metro FMR Area is $2,011, and the Small Area figure for 60301 is $3,020.

What is the Fair Market Rent for a two-bedroom in ZIP 60301?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 60301 is $3,020 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $2,292 (±$151).

What is the Fair Market Rent for a two-bedroom in ZIP 60302?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 60302 is $2,010 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $1,437 (±$68).

What is the Fair Market Rent for a two-bedroom in ZIP 60304?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 60304 is $1,820 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $1,388 (±$74).

What is the Fair Market Rent for a one-bedroom in Oak Park?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a one-bedroom home in ZIP 60301 is $2,670 a month, against $1,780 across the Chicago-Joliet-Naperville, IL HUD Metro FMR Area.

Sources

Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.

Figures last updated on .

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